“Lakeside resorts. Masis, Sis and New Armenia” $500-million project will be launched in RA, head of the Armenian Development Agency Robert Harutyunyan said.

The tourist facilities will be located 15km north of Yerevan, nearby Ashtarak and Abovyan highways. The project also envisages reconstruction of Yeghvard reservoir, what will cost around $70 million. At that, investors are supposed to get some 30% benefit.

Funds will be attracted with the assistance of The Innovation Capital.